Legal Question in Banking Law in Pakistan

I've deposited a cheque for Outward Clearing at my branch amounting to PKR 11,354.00. But same cheque was returned with INSUFFICIENT FUNDS as the reason. Even the subjected account holds PKR 11,354.97 as balance. Mean while they have also deducted CHEQUE RETURN charges of PKR 300/-

What action should I take with court & SBP, as it has seriously effected my GOODWILL. This is the first cheque ever returned with INSUFFICIENT FUNDS since I have started depositing cheques for Outward clearing at my bank???


Asked on 9/06/10, 8:01 am

1 Answer from Attorneys
Salman Khan International Lawyer

You can send a complaint to banking mohatasib and can claim some damages for this against your bank. Because when a check is dishonored, the person issuing it becomes an accused and the person on whose name the check was issued can lodge a FIR under section 489-F of PPC. You can be imprisoned for 3 years and can be arrested immediately after the FIR. It is not a small damage that the bank inflicted to you.

Another way is that you can send a legal notice to bank and demand any amount as damages before approaching court of law, they might pay you something to compromise. You can consult me further on [email protected]

Regards,

Read more
Answered on 9/06/10, 11:58 am


Related Questions & Answers

More Banking Law questions and answers in Pakistan